Store Closures, Fewer Customer Visits and Business Impact Due to COVID-19
First written in FY2020. 7 of 16 entries say "Restated". Latest entry: FY2024.
Kyokuto moved to the "Worse" side of this theme in 2020, the same year as the typical company in this theme.
The whole theme swung hardest in 2020: 68 of 90 companies on the "Worse" side.
33 other companies' latest entry also says "Restated".
- FY2024RestatedAnnual report
「If COVID-19 infections spread again, they could have a significant impact on our operating results and financial position.」
Assuming a return to normal conditions following the easing of restrictions and the reclassification of COVID-19 as a Category 5 disease, we are reconfirming the potential impact on operating results and financial position if infections spread again as a conditional risk. - FY2024-Q3RestatedAnnual report
「During the cumulative third quarter, Japan’s economy was moving toward normalization as restrictions on activity related to COVID-19 were eased and, from 8 May, the disease was reclassified as Category V. Meanwhile, resource prices remained elevated due to sharp exchange-rate volatility and the prolonged situation in Ukraine, and the outlook remained opaque.」
The company has reaffirmed its recognition that economic activity is normalising as restrictions on activities associated with COVID-19 are eased and COVID-19 moves to Category 5. - FY2024-Q2RestatedAnnual report
「During the cumulative second quarter, Japan’s economy was moving toward normalization as restrictions on activity related to COVID-19 were eased and, from 8 May, the disease was reclassified as Category V. Meanwhile, resource prices remained elevated due to sharp exchange-rate volatility and the prolonged situation in Ukraine, and the outlook remained opaque.」
The company has reaffirmed its recognition that economic activity is normalising as restrictions on activities are eased and COVID-19 moves to Category 5. - FY2024-Q1MitigatedAnnual report
「With restrictions on activities associated with COVID-19 eased and its legal classification under the Infectious Diseases Control Law scheduled to change to Category 5 from 8 May, economic activity is steadily moving towards normalisation.」
The company states that the easing of restrictions on activities and the move to Category 5 have partially eased the constraints on economic activity associated with COVID-19 and that normalisation is progressing. - FY2023ReframedAnnual report
「As restrictions on activities associated with COVID-19 have been eased and efforts to balance infection control with economic activity advance, if restrictions on activities are imposed again due to a future spread of infections, our business performance and financial position may be materially affected.」
The description has changed from the previous focus on the ongoing impact of restrictions on activities and COVID-19 to a conditional risk disclosure, based on the current easing of restrictions, concerning the possible impact if restrictions are imposed again in the future. - FY2023-Q3WorsenedAnnual report
「During the cumulative third quarter, Japan’s economy was moving toward balancing infection control and economic activity as restrictions on activity related to COVID-19 were eased. Meanwhile, the domestic economic outlook remained opaque due to the rise in resource prices resulting from exchange-rate volatility caused by the sharp depreciation of the yen and the situation in Ukraine, as well as the resurgence of COVID-19 infections from November onward.」
While recognising the recovery in economic activity following the easing of restrictions on activities, the company also describes a resurgence of COVID-19 infections from November, indicating a phase in which the infection risk was strengthening again. - FY2023-Q1MitigatedAnnual report
「During the cumulative first-quarter period, the Japanese economy saw the priority preventive measures to prevent the spread of COVID-19 end in March. Infection conditions improved with the spread of vaccines and treatments, and efforts to balance infection control with consumer activity were gaining momentum.」
The company states that the end of the priority preventive measures and the improvement in infection conditions have partially eased the restrictions on economic activity imposed by COVID-19, and that efforts to balance infection control with consumer activity are gaining momentum. It does not state that the impact of COVID-19 has been eliminated. - FY2022RestatedAnnual report
「Given this situation, depending on the future spread of infections, our business performance and financial position may be materially affected.」
The company has reaffirmed as a full-year risk the substantial decline in customer visits and businesswear brought in associated with COVID-19, and the possibility that any future spread of infections could affect business performance and financial position. - FY2022-Q3MitigatedAnnual report
「Although business performance has been recovering since October, the recovery has not been sufficient to offset the decline in sales in the first half, and net sales fell substantially.」
Business performance began to recover from October against the backdrop of the lifting of the state of emergency and a decline in infections, partially easing the impact of COVID-19. However, the recovery was insufficient to offset the decline in sales in the first half, and the impact of COVID-19 remains. - FY2022-Q2WorsenedAnnual report
「Under these business conditions, the Company entered the peak spring season for clothing changes. However, in addition to the continued issuance of the state of emergency declaration and priority preventive measures to prevent the spread of COVID-19, the Company was affected by prolonged record rainfall in August and people refraining from going out during the Olympics. As a result, the number of customers visiting stores declined, and deliveries of cleaning items, particularly businesswear such as suits and dress shirts, fell sharply, leading to a substantial decline in revenue.」
In addition to the continuation of the state of emergency and priority preventive measures associated with the resurgence of infections, fewer people going out led to a substantial decline in customer visits and businesswear brought in for cleaning, and the impact has continued in the form of a substantial decline in net sales. - FY2022-Q1RestatedAnnual report
「Against this business backdrop, although we entered the peak season for spring clothing changes, the impact of COVID-19 caused a decline in businesswear brought in for cleaning, resulting in lower net sales.」
The company has reaffirmed the impact of COVID-19 on lower sales, as fewer items, particularly businesswear, were brought in for cleaning. - FY2021RestatedAnnual report
「We were significantly affected by COVID-19 during the peak season for spring clothing changes. Including the subsequent entrenchment of working from home during the pandemic, customer visits declined and items brought in for cleaning, particularly businesswear such as suits and shirts, fell substantially, resulting in a substantial decline in net sales. Given this situation, depending on the future spread of infections, our business performance and financial position may be materially affected.」
The company has reaffirmed as a full-year risk the possibility that the substantial decline in customer visits and businesswear brought in due to COVID-19 and the entrenchment of working from home, as well as any future spread of infections, could affect business performance and financial position. - FY2021-Q3WorsenedAnnual report
「Against this business backdrop, we were significantly affected by COVID-19 during the peak season for spring clothing changes. Including the subsequent entrenchment of working from home during the pandemic, customer visits declined and items brought in for cleaning, particularly businesswear such as suits and shirts, fell substantially, resulting in a substantial decline in net sales.」
In addition to the impact of COVID-19, the entrenchment of working from home during the pandemic has been noted, and the decline in customer visits and businesswear brought in, together with the substantial decline in sales, has continued. - FY2021-Q2RestatedAnnual report
「Against this backdrop, during the peak spring clothing-change season, the company was affected by requests to refrain from going out and working from home as measures to prevent the spread of COVID-19. The resulting decline in store visitors and substantial decrease in garments received for cleaning, particularly businesswear such as suits and dress shirts, led to a substantial decrease in net sales.」
The substantial decline in customer visits and businesswear brought in for cleaning due to voluntary restrictions on going out and working from home has continued. Net sales fell 23.8% year on year, but this is treated as a reaffirmation because the impact has continued since the first quarter of the previous year. - FY2021-Q1WorsenedAnnual report
「Against this business backdrop, although we entered the peak season for spring clothing changes, voluntary restrictions on going out and working from home to prevent the spread of COVID-19 led to a decline in customer visits and a substantial decrease in cleaning items brought in, particularly businesswear such as suits and shirts, resulting in a substantial decline in net sales.」
The impact of voluntary restrictions on going out and working from home due to COVID-19 became apparent in a substantial decline in customer visits and businesswear brought in for cleaning, and net sales fell 24.0% year on year. - FY2020MaterialisedAnnual report
「④ Risks associated with COVID-19 As COVID-19 infections spread, we have taken measures including closing some stores and shortening their operating hours. In addition, voluntary restrictions on going out to avoid infection and the impact of working from home may significantly affect our performance through fewer customer visits and a decline in the number of items brought in for cleaning, including businesswear. Together with the impact of requests to refrain from going out to avoid COVID-19 infections, net sales fell by ¥61.364 million, or 0.9%, year on year to ¥6,618.536 million.」
The company has for the first time separately identified store closures and shortened operating hours associated with COVID-19, as well as declines in customer visits and items brought in, as risks, and has also described their actual impact as a factor behind the decline in sales for the year.